LESSON 5
MVP
The MVP is a Minimum Viable Product which is a technique of where you create a product with minimum features that you can take to the customer to test with to see if the product satisfies their needs. This allows you to learn if your product will work or not, with minimum investment in time and capital.
This means that instead of spending months and a lot of money trying to bring your business idea to life, only to find out later that no one actually wants to buy it, you can actually create a cheaper version of the product faster so that you can take it out to customers and see if they would be interested to buy or even get pre sales for a product that does not yet exist… Makes sense, right?
Task
Go on to www.wix.com and create a one page website, its quick and its easy with its drag and drop functionality.
Examples
Smoke Test:
Launch a campaign to get people on your landing page and get them to pay but not collecting any currency
Sell before you build:
A crowd funding campaign.
Concierge:
Carry out the service manually (Food on the table example)
Single Feature Product:
Build just one feature (riskiest assumption) to see if can get early traction or validation.
Explainer Video:
Video that explains your product.
Landing Page:
Website to test market interest.
Hashtag
#PrideFactorMVP